Wharton’s research centers and initiatives are at the frontier of finance, promoting innovative research and groundbreaking programs in areas including investment management, private equity, hedge funds, venture capital, quantitative finance, fintech, financial policy, and regulation. Explore the future of finance below.
Future of Finance Podcast
The Rise of Crypto | Campbell Harvey and Neha Narula
Cryptocurrency has evolved from a niche experiment to a global financial force. But how did we get here? Itay Goldstein is joined by Duke professor Campbell Harvey and Neha Narula, director of the MIT Media Lab’s Digital Currency Initiative, to explore the milestones that led to crypto’s rise, the forces that shaped its growth, and what the crypto landscape will evolve into.
Research Discoveries
The “Pecking Order” of Firm Growth
Are growing companies better off acting on new, innovative ideas — or scaling their existing ones? Professor Thomas Winberry shows that financial constraints can delay a company’s shift toward innovation, and that these delays have significant consequences for long-run growth. Read more here!
The Financial Power of Data Sharing Among Firms
What is the scope of data-sharing across firms, and what are the economic implications? Professor Huan Tang uncovers a hidden network of inter-firm data flows – revealing that companies are connected not only by products or supply chains, but by the information they exchange. Read more here!
What Shapes Analysts’ Long-Term Forecasts?
How do professional forecasters think about a firm’s growth far into the future? Marius Guenzel, assistant professor of finance at the Wharton School, discusses his paper “What Drives Very Long-Run Cash Flow Expectations?” which uncovers the different factors that shape the long-term forecasts that drive valuations. Read more here!
Events
Explore Recent Events
Conference on Liquidity and Financial Fragility
The Wharton Initiative on Financial Policy and Regulation held its annual conference on October 10-11, 2025 on Penn’s campus. WIFPR hosted financial experts on topics including information and liquidity, real estate, non-bank institutions and fragility, De-Fi, and more.
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Frontiers in Quantitative Finance Conference
On September 26, 2025, the Jacobs Levy Equity Management Center for Quantitative Financial Research hosted its annual conference at the New York Marriott Marquis, featuring presentations and discussions on groundbreaking papers in quantitative finance. The conference included a ceremony to award the 2025 Wharton-Jacobs Levy Prize for Quantitative Financial Innovation to Sanford “Sandy” J. Grossman, the Steinberg Trustee Professor Emeritus of Finance at the Wharton School.
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Wharton Alternative Investments Summit: For Rising Leaders in Private Equity
On May 30, 2025, leaders from the world of private equity gathered at the Penn Museum to share insights and reconnect with fellow Wharton alumni working in the alternative investments industry. Hosted by the Harris Family Alternative Investments Program, the summit offered a platform for rising leaders to engage in important dialogue on innovation, long-term value creation, and the future of private equity.
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About
Finance centers at the Wharton School serve as thought leaders for innovative research by supporting and disseminating cutting-edge work in areas including investment management, private equity, hedge funds, venture capital, quantitative finance, fintech, policy, and regulation.